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CNBC
Aug 28, 2009 8:00pm EDT
but there are several big names that have been down in the dumbs making a comeback now. on that list, aig. look at this chart. up 275% in a month. what's making this stock jump? fannie, freddie, bank of america, citigroup also making moves. in depth on the widely held stocks on the st. if almost everyone else owns them, shouldn't you? what we will learn from the kua kuants. >> i'm in for my colleague, dennis kneale. even with a friday fade, the positive news from retailers and bad news on bank those in critical condition topping 400, the death of massachusetts senator ted kennedy. 46 years in office and 77 years on this earth being celebrated tonight by family and close friends at jfk in boston. and tomorrow buried in the arlington cemetery. >> five owe their survival to government intervention. today, trading totaled almost 40% of the big board listed volume. freddie me an and fannie mack, check out this chart. fannie mae up 52% and freddie mac, up 251%. they were in big trouble and now soaring. both in hock to the government, citi is up 75% and bank of america on a run as well in the last mon
CNBC
Aug 27, 2009 3:00pm EDT
, folks. let's take a look at some of the big names going on here. first aig. and of course a lot of discussion. it's a pretty simple story folks. late in the day american international group yesterday, there were rumors floating around that perhaps mr. greenberg would be invited back at this point. that was just a rumor but then late in the day we did get some confirmation from reuters that mr. benmosche, who is the ceo of aig, was talking to mr. greenbe greenberg. the stock moved up toward the close and again here a fairly javy volume well north of 100 million shares. citigroup, what can you say about citigroup? ever since we had that move away from the preferred shares and into the common shares, they converted the preferred into common there's been big volume. once again we're going to do over 1 billion shares in citigroup. yes, a lot of this is momentum trading. of course it is. nonetheless it's certainly important here because the stock has held up comfortably above $5. fannie mae and freddie mac also getting big volume today. that's the first part of the rally was in financ
CNBC
Aug 27, 2009 12:00pm EDT
rally going here. but aig, it's surging again. shares right now up roughly 30%. it's almost a $50 a share, a momentum play, a short squeeze? we'll talk to a trader who has an idea and the price targets. >> and i'm sue herrera, jap on heading to the polls to elect a new leader. what does that mean for the world's second biggest economy and for you as an investor. we'll show you the smart way to play japan. >> michelle is off today but we have a special guest host this our, our friend mullencamp is with us, and we'll find where he is putting money to work, and what he thinks about the summer rally, and among other things, we'll get to. but here's what else is on the menu today. >> i'm hampton pearson in washington. the fdic says its list of problem banks hit a 15-year high in the second quarter, and fdic chair sheila bair says a banking industry balance sheet recovery will lag behind the rest of the economy. >> i'm phil lebeau in chicago. boeing hopes the third time is the charm when it comes to is heing a schedule for the 787 dreamliner. we'll tell when you its first fight is sched
CNBC
Aug 28, 2009 12:00pm EDT
today, which we'll get to. aig continues its surge, so stick around for details on all of that, coming up. >> i'm sue herrera, goliath versus goliath, ramping up moves into financial services. we'll tell what you the world's biggest retailer is up to. >> we are pleased to welcome our special guest this hour, j.j. burns, the president of j.j. burns and company, good to see you sir. we'll find out where he is putting his money to work these days and his take on the fab five stocks this week, the fannies, the freddies, the aigs, and b of as. here's what else is on the menu today. >> i'm jim goldman in the silicon valley bureau, another helping of california cuisine, a one-two punch of good news from dell. and intel strength where we didn't expect it and the news that isn't merely less bad but actually good. and shares are reflecting that. >> i'm julia boorstin in los angeles. retailers suffered through the recession, but now things are starting to look up. cost cutting helping the bottom line and protecting its high end i imaginage, back in the door when they were ready to spend. >> all
PBS
Aug 7, 2009 7:00pm EDT
: then, a.i.g. shares soar as the tax payer investment finally turns a profit. but the bailed-out insurer isn't out of the woods yet. we'll tell you why. >> susie: i'm susie gharib. >> jeff: and i'm jeff yastine. paul kangas is off tonight. this is "nightly business report" for friday, august 7. "nightly business report" is made possible by: this program was made possible by contributions to your pbs station from viewers like you. thank you. >> susie: good evening, everyone. the nation's unemployment rate fell for the first time in a year, and president obama said today that the worst of the recession may be over. the labor department reported that american businesses cut 247,000 jobs in july, the slowest pace since last august. the unemployment dropped slightly to 9.4%. president obama welcomed the news as a sign that the economy is improving, but cautioned that more work needs to be done to reach full recovery. >> as far as i'm concerned, we will not have a true recovery as long as we're losing jobs, and we won't rest until every american that is looking for work can find a job. i have
WETA
Aug 7, 2009 5:30pm EDT
of inrance giant, aig. that ce just days after goldman's -- lehman brothers s allowed tofail. d was decided treasury secretary that used to the boss ofoldman sachs. when this finanal crisis stru goldman d an initially $2billion exposureto aig, some of wich itad offset. had aig goneust there was a rea and paulsonecently said that there were signifint issues with goldman at the time. >> the biggest beneficiary of the billions of dollars pumped into aig, much of ich went straight through aig and onto s counterpart was goldman sachs which got $12 billi of it. >> rorter: meetings oer the second weekend of lt september here at federal reserve bank of new york had already condemned lehm brothers. just subsequent meeting on aig, goman's chief executive was the only chie bank present and treasury secretary paulson should have never ll about goldman's sensitivity to aig's te. he'd been bo of goldman when many of the aig deals we struck. >> theeo of goldman sachs was the room during these negotiations and i know this from somebody who s also in the om at the time. whereas t primary regulator of aig,
PBS
Aug 7, 2009 5:00pm EDT
crystallizes around one episode from around last year, the government bailout of insurance giant, aig. that came just days after goldman's -- lehman brothers was allowed to fail. and was decided by treasury secretary that used to be the boss of goldman sachs. when this financial crisis stru goldman had an initially $20 billion exposure to aig, some of which it had offset. had aig gone bust there was a r and paulson recently said that there were significant issues with goldman at the time. >> the biggest beneficiary of the billions of dollars pumped into aig, much of which went straight through aig and onto its counterparty was goldman sachs which got $12 billion of it. >> reporter: meetings over the second weekend of last september here at federal reserve bank of new york had already condemned lehman brothers. just subsequent meeting on aig, goldman's chief executive was the only chief bank present and treasury secretary paulson should have never well about goldman's sensitivity to aig's fate. he'd been boss of goldman when many of the aig deals were struck. >> the ceo of goldman sach
CSPAN
Aug 19, 2009 12:00pm EDT
-by-state basis as the industry currently is. obviously, with the aig issues, that's a monster insurer that has essentially been the poster child for things gone wrong over the last couple of years, the desire is there to make a change. lawmakers are tiptoeing around it. they are not sure how to come in or how they would come in. >> lastly, so muchç on the congressional plate on healthcare, energy, where does all of this -- this re-regulating of financial regulators, the changing of the regulatory system where does all of this fit into that. >> that's the big question right now. obviously, president obama has said by the end of the year he wants something on his desk that he can sign. the treasury has been aggressive getting their proposals out. they've sent legislative language to the hill. i think in the house, it's almost assured mainly due to the majority, just due to the rules of the system that they will move something in the fall and probably early fall. they're going to in a piece by piece basis, separate bills and combining them into a separate package. the big question is the senate
CNBC
Aug 8, 2009 6:00am EDT
citigroup, aig and bank of america. these stocks in particular, if you look at them, this is a bay ta trade. citigroup st a $3 stock. if you're a hedge fund, you can load up on this thing. it's call and a call with a government guarantee. bank of america, the same thing. aig, the same thing. you can buy lots and lots of shares, relatively cheap puts at this point because on historical basis and implied volatility it's massively. there's a ton of short interest here. i think what's going on -- these are rented positions. these are not funds where the mutual funds are adding at this point. >> aig is probably -- pgd. sorry. >> aig is probably a special case here, though. i don't think it's people getting into aig because they're afraid they missed the boat. 3/it's the economic outlier of the three. is a proxy for the price of options. so you see implied volatility first and that means the options are getting cheaper. dan, you've got a trade on bank of america here. >> the stock has a great run. it traded in low single digits back in january. the stock is up here in the high teens. the company
CNBC
Aug 9, 2009 6:00am EDT
citigroup, aig, bank of america. if these stocks in particular -- if you look at them, these are a beta trade. and citigroup is a $3 stock. if you're a hedge fund, load up on this thing. you know where the downside is. the call and it's a call with a government guarantee. bank of america, the same thing. aig, the same thing. you can buy lots and lots of shares you. can you buy cheap puts at this point. because on historical basis, buy volatility. you can ride this trade. a ton of short interest here. and that's what's going on. these are positions where, you know, mutual funds are probably adding at this point. but hedge funds are driving this activity. >> right, but -- >> go ahead, i'm sorry. >> aig is probably a special case here, though. i don't think it's people bailing in -- getting in to aig because they're afraid they missed the boat. it's short squeezing aig. i consider that kind of the outlier of the three we talked about. >> and we want to clarify for all of the viewers out there, volatility on the vix or applied volatilit volatility, it's a proxy. you see volatility coming i
CNBC
Aug 27, 2009 11:00am EDT
officer of aol in advance of the spinoff from parent time warner. and former aig outside directors are asking that a shareholder lawsuit be dismissed. it accuses them of ignoring things that led to a bailout. that's cnbc.com news worldwide. much. >> i'm mandy drury standing in for trish regan and melissa francis. stocks are lower. despite economic data development, and gdp. plus, the latest on the fdic quarterly report on problem banks. larry? >> i'm larry kudlow, everyone. citigroup up about 70% in the last month. aig, fannie mae, freddie mac also on the rise. we'll discuss whether there is still an appetite for these risky stocks. this is "the call." we are cnbc. >> stocks trading negative to find better than expected results on both gdp and jobless claims. and the fdic reporting the number of problem banks rose sharply in the second quarter. home builders also lower, after toll brothers reported a widening second quarter loss. right now, the s&p is also to the down side. and the nasdaq is not doing too much better, an over 1% drop for the s&p 500. and the nasdaq is only getting
CNBC
Aug 10, 2009 11:00am EDT
's take a look at some of these hot stocks. mentioned neck wear specials.. taking aig, cit off the board. we know those are huge media stocks up, gannett, louisiana pacific, masco, building products company, very strong. macerich, the financial sector 72% in the last four weeks. real titans of the trough, aig, of course, has an unbelievable run.n. look at trw, over 1,000 percent. genworth 1010, office depot, ford, another $1.50 to $8move. take a look at aig, we keep holding that up as the darling of the clunkers because of its short-term and surprising move to many. if you look at super composite financial index which is small, mid and large cap financials, there are 20 stocks that not only beat aig but buried aig from the trough, i showed you gen worth, bank of america, hartford, capital one all beating aig off the bottom. >> matt, what's our takeaway here? those were some incredible numbers. is it luck? is it the rising tide, they were off. look at office depot. look at the mall read. malls aren't doing well. >> you're lucky if you bought them, had the confidence to really buy into the
CNBC
Aug 27, 2009 4:00pm EDT
stock exchange this week. just look at aig. and of course we had a whole hour essentially discussing various aspects of aig. the bottom line is this. not only was there a short squeeze it has been going on for weeks, but in addition, mr. benmosche making some positive comments in the last week. then recent revelation that's mr. benmosche was in fact talking to hank greenberg, also helped move the stock up in the last day. i hope you heard what we were talking about in the last hour, mr. greenberg calling in to cnbc and saying those recent rumors on the chat boards that he might be leading an investor group to try to take over aig not true here. take a look at citigroup. you can see citigroup moving forward here throughout the day, over 1 billion shares there as well. finally, second leg of this whole rally occurred when the dollar dropped around 1:30 eastern time. that had a dramatic effect on some of the big commodity names. that helped more everybody forward as well. there's a big drop in the dollar. murphy, you can see a move up in some of the oil names. they have been lagging thr
CNBC
Aug 6, 2009 12:00pm EDT
that stock is headed. also, we will go dumpster diving. many stocks left for dead. aig, fannie mae, nice pops today. we will tell if you there's any value in the stocks. first, more "power lunch" right after this. has the fastest serve in the history of professional tennis. so i've come to this court to challenge his speed. ...on the internet. i'll be using the 3g at&t laptopconnect card. he won't so i can book travel plans faster, check my account balances faster. all on the go. i'm bill kurtis and i'm faster than andy roddick. (announcer) "switch to the nations fastest 3g network" "and get the at&t laptopconnect card for free". >>> welcome back. we're almost halfway through the trading session. and the headlines this hour, first-time jobless claims fell last week by 38,000. the economist says that is a sign of hope that the economy may be on the road to recovery at this point. "the wall street journal" is saying banks and lawyers could rake in nearly a billion dollars in fees for helping to manage and then break up aig. ha shares of aig have been very strong all week. even in a weak market,
CNBC
Aug 7, 2009 11:00am EDT
essentially. 87 cents friday. look at that, it's basically twice as much. aig, a similar story. they used the magic word in the earnings report, stabilized. some businesses have stabilized, and more importantly, the value of their assets have shown improvement. you put the two stories together, what happened here? eased concerns in the financial community about asset quality deterioration, number one. number two, helped people that believe it's going to be a double dip. financials going to deep down later in the year a little more on the back burner here. that's very important. look at the big banks today, they're up again. citigroup up 4%. bank of america up 13. decidioe i sigh zions bancorp up almost 20%. les moonves, the ceo of cnbc went out of his way to say the worst was behind them, some advertisers returning, and he anticipates a significantly stronger second half of the year for the company. once you start allaying the fears that credit quality is deteriorating larry, you get a nice move up in the financials. there's your leadership. >> let's talk more about the jobs report and th
CNBC
Aug 18, 2009 11:00am EDT
and a bear and whether it means correction. >> plus, the united bonus outrage earlier this year, and now aig gains approval to pay its new chief executive a multimillion dollar payday. so do we really need a pay czar? that's ahead in today's "call of the wild." we'll be right back. based on the deal they get.pr others by the car of their dreams. during the lexus golden opportunity sales event, you can do both. special lease offers now available on the 2009 es 350. the first complete women's multivitamin in a drink mix. with more calcium and vitamin d... to support bone and breast health... while helping you hydrate. one a day women's 2o. refreshingly healthy. >>> welcome back to "the call." rick santelli on the floor. of hey, another data point today that really spending triggers paid attention to, and that, of course, was housing, even though it was down a bit single family homes jumped to their best levels since october of last year. pay attention to those metrics for housing. let's look at the charts. the dollar index, as you can see on the chart, it's stabilizing. it wasn't that long ago
CNBC
Aug 27, 2009 7:00pm EDT
we -- if we were going to stand and not let aig fail, we're certainly not going to let the banks. >> let me ask you about this. we got 8,100 banks in this fund. do we need 8,100 banks in this country? we're down 8,100 or whatever the number is so far this year. but according to the report today, 8,100 banks are part of this insurance fund. do we need 8,000 banks? why do we need that? >> i'm not sure that there is some right number of banks, but i certainly feel like smaller banks often provide valuable services and competition and serve markets that the larger banks don't serve as well. >> but aren't these little piggy banks the ones that are going down? that's what's happening here. some are bigger than others but on the whole it doesn't seem to shake the system. i'm into the banking destruction here. assuming you guys are right, and i hope you are that this stuff is going to be guaranteed and insured properly, then my next question is, so who cares? so a bank goes down, a big bank swallows her up and that's the deal. >> i agree with you. i think we let the small banks fail, we
CNBC
Aug 28, 2009 8:30pm EDT
'm melissa lee. here's where the action is tonight. im posters, aig and fannie have grabbed the headlines. it's the options activity that has the smart money excited. we'll tell you why. >>> christmas in december, one trade that could protect your portfolio up until december. she'll tell you what it is. >>> and dan and mike nail target they correctly call dell on earnings. >> i think they're poised to move just by the 15 call. >> now, we'll see who made the most money. options action begins right now. welcome to the show, great to have you with us. these are the options action traders at the desk at the home of the world's third largest market in the windy city of chicago and city of brotherly love, philadelphia. stocks closing off their lows but still break an eight-day winning streak, this despite upbeat news out of intel and dell. temporary rest stop or perhaps start of a correction. the dash for trash started with citigroup and aig, we could have expensive garbage as aig is joined by fannie and freddie, all up 200% this month alone as shorts continue to get squeezed. options trading, 16er
WETA
Aug 18, 2009 6:30pm EDT
's pay czar wil review t $7-million pay paage being arranged for a.i.g.'s new.e.o. a spokespersonor the president id a.i.g. needs good compete leadership that n return the bail out insurer to ofitability. still, incoming o robert benmoschcould earn millions more in performance-based incentives. last fall, taxpayers paid $1 billion to bail t a.i.g. >> paul: just in te for the hodays, sony is cutting the price its play station 3 by $100, to 299 bks. it's also launching a aller model with a 120 gigbyte hard drive xt month. play stion sales have fallen behind microsoft's "x-box"nd ninten's wii. but sony's c.e.o. thin nsumer reaction to the price cuts will be "enomenal." >> susie: here's a lk at what's happeng tomorrow: >> susie: tonight'of mutual intere commentator says there's a chan underway in the mutual fund market with grth funds gaining vor. he's john waggoner mutuafund columnist atusa today." >> everything goes in cycl. in t spring, the swallows return to capistrano. in the summer, the perse meteor showers lht up the heaven and every ten ars or so, growthunds return to favor. th
NBC
Aug 21, 2009 4:30am EDT
think i dropped 20 pounds just in sweating. looking for the cooloff. >>> aig plans to pay off, manufacturing jumps back, and starbuck gives and taketh away. >>> plus, "inglourious baster " basterds." we'll tell you what it has going for it and against it at the box office this weekend. >>> a new uniform for plaxico burress. lightning strikes twice for molt. and what's gotten into the red sox? you're watching "early today." >>> good morning and welcome back to "early today," everyone. i'm dan kloeffler. and here are some of your top headlines this friday morning. >>> preliminary results are not expected for several days in afghanistan where millions voted in a presidential election despite terrorists of violence from the taliban. at least 26 people were killed in election-related violence. less than half of eligible voters went to the polls. >>> this morning's "new york times" is shedding some light on the degree to which the cia now depends on outside contractors to perform some of the agency's most important assignments. according to government officials, the private securit
PBS
Aug 18, 2009 7:00pm EDT
the $7-million pay package being arranged for a.i.g.'s new c.e.o. a spokesperson for the president said a.i.g. needs good competent leadership that can return the bailed out insurer to profitability. still, incoming ceo robert benmosche could earn millions more in performance-based incentives. last fall, taxpayers paid $182 billion to bail out a.i.g. >> paul: just in time for the holidays, sony is cutting the price of its play station 3 by $100, to 299 bucks. it's also launching a smaller model with a 120 giga-byte hard drive next month. play station sales have fallen behind microsoft's "x-box" and nintendo's wii. but sony's c.e.o. thinks consumer reaction to the price cuts will be "phenomenal." >> susie: here's a look at what's happening tomorrow: >> susie: tonight's of mutual interest commentator says there's a change underway in the mutual fund market with growth funds gaining favor. he's john waggoner mutual fund columnist at "usa today." >> everything goes in cycles. in the spring, the swallows return to capistrano. in the summer, the perseid meteor showers light up the heavens. and ever
CNBC
Aug 6, 2009 6:00pm EDT
seeing in an mbi, you get the kind of buying you're seeing in a cit, in an aig at the end of a move. and that's got people worried because there is a -- there's fraud. i say start buying. i think it's part of the game. i do not make that conclusion. i make the conclusion that citigroup is cheap here. global franchise, unloading bad loans, fabulous call on worldwide economic growth. good for the country, good for your pocketbook. citigroup, it's a buy. >>> coming up, cramer adds another member to his foreign legion. tonight, jim is headed to chile to find you a refreshing stock that could pour some profits into your portfolio. >>> plus, how can you tell if one bad apple is spoiling the whole sector? cramer picks apart the accounting stocks to give you the ones that could be ripe to buy. undefeated professional boxer floyd "money" mayweather has the fastest hands boxing has ever seen. so i've come to this ring to see who's faster... on the internet. i'll be using the 3g at&t laptopconnect card. he won't. so i can browse the web faster, email business plans faster. all on the go. i'm b
CNBC
Aug 28, 2009 11:00am EDT
, but no consensus on that one. finally, the big, big high-beta names this week, fannie mae, aig, freddie and citigroup. i've said it many times. those four names account for 25 to 30% of the volume on several days this week of the new york stock exchange. larry, back to you. >> all right, bob, thanks very much. now, consumer sentiment drops to its lowest level in four months. renewed concerns about the labor market, apparently. so if the consumer doesn't lead a strong recovery, will business and corporate profits get the job done? here to discuss is michael pento, chief economist at delta global advisors of. hello, michael. how do you read the consumer spending number this morning? let's start with that. personal income, consumer spendi spending, how do you read it? >> the government has done one of the dumbest things the government can possibly do. they are going in -- further into debt to direct consumption, and you see the savings rate, which was almost 7%, in the high 6s, and now it's dropped for two consecutive months, now it's down to 4.2%. i mean, this is very, very dangerous for
CNBC
Aug 5, 2009 3:00pm EDT
, four quarters into the future. i'd also say take a look at aig because this move is phenomenal and they have earnings this week, five straight losing quarters, bob, and yet people are bet on them with a huge way with the new leadership there. and obviously there's the big short squeeze going on. they did that 20-1 reverse stock split. i'm looking at over 240,000 calls changing hands. that's not retail. that's institutional buying in a big way in aig. >> yeah. 120 -- we're seeing volume magnitudes higher. there's been all sorts of speculation on aig, fannie, freddie all throughout the day here, some talk, speculation about a debt for equity swap that would certainly help the interest expense for aig. there's all sorts of things out there. let's talk a little about some of the industrials. johnson control, big well-known industrial company here. also getting some buying as well in the options market. >> yeah. and i've heard all day in your show people talking about industrials. certainly this is one of those core companies. everything from air-conditioning to the automotive expos
CNBC
Aug 6, 2009 9:00am EDT
. concentrate on the financials quickly. out liar financials, cits, aigs, freddie macs, fannie maes, all over the world. the crowd here, they're waiting for cit and freddie. very mixed picture. in general, more companies missed expectations than beat expectations. that's according to ken perkins. that's a little bit of a disappointment. we did see some very interesting trends here. kohl's and chico's was positive. nordstrom loss but -- in sales but it's much better than expected. there is earnings trend improvement story that's going on, which is why you're i don't guess to see some companies open up. macy macy's, gap, jcpenney, all raised guidance. some companies continue to report. abercrombie down 28%. american eagle, saks, all double digit decline. number one, still a story about cost cutting and. inventory reduction. still, number two, the demand still remains poor but inventory level are getting leaner and we're hear that consistently. finally, unusual amount of comments from trader rs about the cash for clunkers program and the extent it might compete with retailers. $400 for a car pay
FOX News
Aug 10, 2009 5:00am EDT
or wrong message? >> look, goldman sachs was owed $6.35 billion by aig and they got it because gostz rescued aig. then they did an accounting move and hide all their losses in a previous year. now, they can't even say thank you by giving a little more money to americans hard working ferari dealers, you call that gratitude? >> at least they can do if they are making all this money, they could spend a little and share it with us. the bottom line, this is pr? they are afraid of the taxman. >> unfortunately in a heavily regulated society wall street servicing pr. >> one thing we should mention they do gifz away a lot of the money they receive. i know we would like to think of them as robber barons but there a lot of charity they use with the bonuses. >> of course. and they are concerned about the goldman sachs banks. we need to get people spending again. >> this is not about pr, it's about gm, government management. they are trying to get their hand out of pocket and their employees out of the newspapers. i think it's fine for them to say this but goldman sachs is now back in business ag
NBC
Aug 6, 2009 5:00am EDT
universities are offering mba's in new areas. >> investors are waking up to headlines of aig. michelle steel joins us live with that story and the rest of the business news in the bloomberg news report. >> good morning. aig is well known for getting billions of dollars from the government. now the guy who led the insurance company for 38 years may be facing a federal government lawsuit. they may sue the executive. he was pushed out during a government probe into its business. they accused of hiding losses and inflating reserves. the government is weighing a reorganization of fannie mae and freddie mac. they may put it in a government supported corporation. no decision has been made yet on whether to go through with the good bank-bad bank option. stock futures are pretty quiet indicating a slightly higher open. the government july jobs report comes out tomorrow. that is business news. reporting for wbal-tv. >> see you back here at 6:15. if you are in the market for new technology, now may be the best time to buy. >> the computer section at best buy was busy this afternoon. people checking at
NBC
Aug 12, 2009 5:00am EDT
is growing faster than they expected. aig has a new ceo that has been on the job a couple of days. he is already leaving for a two week vacation. his vacation will not hurt aig, but it is probably not the wisest decision. that is the latest. back to you. >> he has to rest up before he starts the job. >> the worst pr possible. >> timing is everything. >> see you back here at 6:15 for your next report. >> we will get a look at your morning commute with traffic and weather together coming up. weather together coming up. >> the orioles some people buy a car based on the deal they get. - others buy the car of their dreams. - ( beeps ) during the lexus golden opportunity sales event, you can do both. introducing our best offers of the year on the vehicles intellichoice calls "the best overall value of all luxury brands." it's an opportunity today. it's a lexus forever. >> the country is still mourning the loss of eunice kennedy shriver. >> she founded the special olympics and touched many lives. our reporter has more. >> it was her sister rosemary that inspired her to have camp shriver at h
CNBC
Aug 7, 2009 9:00am EDT
. in the earnings, aig up 17%. yesterday had good earnings report. first profit since 2007. they used the magic word, stabilize. some of their business has stabilized. equally important, the value of some of their assets showed some improvement. that's really good because that was a key factor in some of the speculation of traders this week. it may have been a big part of that short squeeze that we saw on wednesday in aig. david will have more on this in a few moments. cbs, it wasn't a great report. revenues down 11%. let's move, mundez is positive. some advertisers are slowly starting to return. that stock is going to open up this morning. finally, hold on to air gains this week. looks like we're adding to that right now. tradertalk.cnbc.com. mike huckman, how are we doing at the nasdaq? >> things perked up here on the back of the unemployment report. but we seem to be holding steady, up .8 of a percent. we still have earnings stories to talk about here at the nasdaq that are moving a handful of stocks in the premarket, at least. invidia up. sales in this quarter are going to be way better than ana
FOX News
Aug 27, 2009 10:00pm EDT
monkeys? we will show you the video. they found him, the ceo of aig. we tune them out to the tune of $180 billion. they hired a new ceo. did he roll up his sleeves and go to work? not exactly, he took over on august 10th and then he won a vacation. -- and then he went on vacation. @ progress... it starts with more models than toyota or honda with an epa estimated 30 miles per gallon highway or better. next, it's a lineup of hybrids that fit the way you live, and one day, chevy volt, a car that can go up to 40 miles before it uses any gas at all. that's an american revolution. that's a-- tiny netbook. yeah, it's-- good-looking, lightweight. generally awesome. and you could just-- go online, video-chat with my cousin. this is un-- under $200. are you some kind of-- mind reader, visionary ? no, i have them. huh. the new lightweight hp mini netbook with windows and america's largest and most-reliable 3g network built in. only 199.99 with mobile broadband plans from 39.99 i am-- speechless, envious. wanna be me right now. getting one. you weren't always my favorite day. with all the pet hair i
CNBC
Aug 6, 2009 4:00pm EDT
an inventory replenishment. let's talk about aig. again, second day, big volume here, two theories about what's been going on. number one, earning coming out. maybe a really good quarter. maybe they'll get some news on their investments, maybe announce a debt for equity swap. i heard half a dozen theories today. more importantly stock lending desks appear to be making it more difficult to borrow. announcement the government was banning naked short selling may have made many lending desks more conservative. take a look at the big financial names. huge volume in bank of america and citigroup. other citi did over a billion shares several days in a row now. two-month high for citigroup. bank of america, that's the high for the year. 300 million shares a day for five days in a row now. as we know, michelle, yesterday radian, some of the other mortgage companies came out and made some positive comments. back to you. >> thank you, bob. we have quarterly results from cbs. cnbc's julia boorstin has the details. julia? >> hi, michelle. yes, we're getting earnings per share on an adjusted basis of 8 cen
CSPAN
Aug 30, 2009 10:00pm EDT
aig which has become a giant money sink, again with your money. but at that point, ving let or maybe been forced to letehman brothers go wonder bernanke's.the new mantra in the monster is, whatever it takes. from that point on, he sees himself as the only thing that stands between us d the calamity of the depression. they lamps 10 tons of money to aig ande helps convince paulson to go to congress and get $700 billion to prop up the banking system. they guarantee money market funds, they guaranteed the debt of almost every financial institution in the country, they launched the whatever it takes campaign for the benefit o hindsight, the little hindsight we have i think you hav to judge as a succe. "the wall street journal" a few weeks ago pulled a bunch of wall street economists and ashem to great bernanke and i really like the comment that one of th may was. he said bernanke's record was outstanding, with flaws. you know, when i go i would like for someone toay that my record was outstanding with flaws. [laughter] i am happy to talk about why they did not save lehman and why they di
CSPAN
Aug 31, 2009 1:00am EDT
and said, larry, i have aig on the wire, and they're a seller. where are you on delta. where are you on five million. for a split second i hesitated. mike yelled, they have 5 million to go that's win i called it, 16.18. and at that point lehman brothers was committed to an $800,000 busy. standing up the traders, the no-going-bk phrase, and our first trade of delta was now cast in marble. i heard mark cry out the confirmation to the customer. you're done. sonds later, we got hit again. terrance parker on the lean. where are you on delta? five million up. people were desperate, trying t get rid of their holdings. i called th same price, 16, but the words were hardly out of m mouth when we got hit again for another five million and then again. instantly i dropped the price, 15.17, and our client grabbed it. the best bond sales, say, i got silver point on the line. where are you on delta right now, five up? three more sell orders came flashing in. besides me joe was talking in all directions, hit, buy, lift, 10 million up, where are you on the follow? he was a trading machine, and on th
CNBC
Aug 27, 2009 4:00am EDT
for aig's new ceo next week. robert moss is slated to received $10.5 million bucks. ben mosh has reportedly reached out to former aig chief hank greenberg for advice. greenberg tells reuters he believes ben mosh has the best chance to succeed at rebuilding aig. aig shares rose 4% in after hours trading yesterday. you can get more news, videos and blogs as ross mentioned at cnbc.com. >> absolutely. still on the program, another twist in the opel drama. could the german government be forced to refinance? investors will be looking at a u.s. revised gdp data due out today. >>> a mixed association right now for global equity markets. adam will wrap up the asian session for us, stephane is in paris, sylvia is in frankfurt and first, becky is in london. >> it has been a bit mixed today. ierpan markets did open a little lower. let's check, as well, on some of the earnings news that we've had out this morning so far as we watch the ftse going higher by about 0.2%. we are tracking biaggio particularly. that company came out with figures showing earnings rose by about 10%. they cut their ou
CNBC
Aug 28, 2009 5:00pm EDT
stock split. >> it should do wonders for aig shares. >> that short squeeze that mr. grasso talked about all of a sudden becomes a monster, it will. again, aig it fell off a cliff after their reverse stock split and then it went back to work, i think in the same v in citi. >> there's no loan growth, a long-term story, no it's not that bullish, but short-term, that's why these stocks are running and they could run another two months before they get hit. >> you know, when you look at these financial names, i don't know if you can make the claim it's not seeing any improvement in consumer banking because clearly you are. look at the wells fargos, u.s. banks, jpmorgans, there is an improvement right now in the consumer. housing, housing, the loans, they service those loans, consumers feeling better about that balance sheet. so i think that when you look at the entire sector, you also have to say, yes, the fundamentals have improved slightly and they have improved to the advantage. >> i agree with you 100%, i'm talking specifically with the aig fannie, freddie, citi. >> and to joe's point, ye
CNBC
Aug 5, 2009 7:00pm EDT
 insurers led by aig and banks led by anybody but pnc percentage-wise. apartment investors, very strong, 8% high e citigroup, my worth, 10% move with a one day volume record, 347 million shares of citigroup changed hands today. quite a thing it was. tomorrow, more earnings coming out. weekly jobless claims, retail sales expected down 5%. comcast, directtv, black stone, cnbc all reporting, and don't ignore these if you're following the global story, unilever, they're all over the diabetes stories and thompson reuters, a big canadian company worth watching. >> i love banks. that has been my mantra. i'm glad the banks are still around, a great economic recovery sign. you mentioned citigroup, a government owned bank. citigroup did great today, fannie mae did great, freddie mac did great, the welfare recipients in the banking world. you own them as a taxpayer, you own them. why are they rallying and in particular, fannie, freddie and aig, you want to talk cash for clunk steres, this is clunkster city. >> they're the hottest group. >> freddie, fannie, aig? >> in the short term. the financials ha
CNBC
Aug 6, 2009 5:00pm EDT
. >>> next trade, aig, fannie mae surging between 40% and 100% this week alone. these stocks were left for dead. it's been a short squeeze that's really pushed it higher. >> let's talk about aig first. nine analysts have a hold on the stock. one has a sell. no one has a buy. everyone is playing aig from the short side. into earnings tomorrow, what are you looking for? what's the possible upside? the possible upside could be that the value of these toxic assets that were written down so aggressively over the last couple of quarters will begin to modestly rise. that's your upside in aig. other than that, i don't understand why people are getting so hopped up. >> you might also be getting a slight exaggerated move, too. when you look at the names, i'm talking about options that are unbelievable. aig traded over 300,000. cit, fannie, freddie, hartford. they started buying the august calls. today they bought over 25,000 of the august 20 calls. so people are -- you've got to do a hedge. if you're a market-maker standing on the trading floor and selling these calls in aig and the rest of it,
CNBC
Aug 6, 2009 11:00pm EDT
, in an aig at the end of a move. and that's got people worried because there is a -- there's fraud. i say wait for a little selloff and start buying. i think frost is part of the conclusion. i make the conclusion that citigroup is cheap here. global franchise, unloading bad loans, fabulous call on worldwide economic growth. good for the country, good for your pocketbook. citigroup, it's a buy. >>> coming up, cramer adds another member to his foreign legion. tonight, jim is headed to chile to find you a refreshing stock that could pour some profits into your portfolio. >>> plus, how can you tell if one bad apple is spoiling the whole sector? cramer picks apart the accounting stocks to give you the ones that could be ripe to buy. announcer: some people buy a car based on the deal they get. others buy the car of their dreams. during the lexus golden opportunity sales event, you can do both. it's an opportunity today. it's a lexus forever. special lease offers now available on the 2009 is 250. >>> tonight, we're once again joining the foreign legion. not the french foreign legion, the crameri
CNBC
Aug 21, 2009 12:00am EDT
at citi. aig. back over a billion shares today. aig, 134 billion shares trade over there today. million shares, excuse me. the credible volume. when you look at what's trading right now. aig right now, trades about a third of the outstanding shares every single day. i mean, it's really very, very active. last 30 days, it's averaging 35 million shares a day. incredible activity out there. we all know how volatile it is. i think to guy's point, the reason you're seeing some of these shallow pullbacks is because of that put protection. people have been able to buy those puts at lower volatilities than they had in months. they're able to buy those puts, get that protection that allows them to hold on to stocks without actually pushing those stocks to the down side. >> let's drill down on aig. it was a big mover it in today's session. that is -- you mentioned second-tier. this could be like fifth-tier financials. whatever you want to call it, it did move higher today. we had comments today from a town hall meeting that aig held this month with its new ceo saying that they're not looking to r
CNBC
Aug 7, 2009 12:00pm EDT
financial outliers from cit as well as aig. aig had a very good earnings report this morning. that's allayed a lot of concerns. they're up nicely. some of the big banks also having a great week as well. tradertalk.cnbc.com. mike, what about the nasdaq? >> it's been a little up and down session so far today. right now we're up obviously. if we hold here, we'll close out a four-week performance at the nasdaq where it's risen 14%. that will be the best four-week performance in as many months. not everything is in rally mode today. shares of the big biotech company genzyme hitting a new intraday low. goldman sachs putting on the dreaded so-called conviction sell list. on the up side, because of earnings, graphics chips maker invidia hitting a new intraday high as well as kroks. i know people say the shoes are a fad, but it's up 30% with the company saying it's going to return to profitability next year. >> pisani really hit the nail on the head here. when it comes to commodities, there's such a push and pull between the dollar and the equity market. for a while here, oil was in lock step with th
CNBC
Aug 20, 2009 12:00pm EDT
financials are passing important technical signals. let me start with aig. the new ceo said he was going to repayment the government debthe- owes them, $180 billion, folks. good he is reaffirming that, but i think there is more of a technical thing going on this is a short squeeze, not a lot of shares outstanding, i think 134 million. remember they had that 20 to 1 reverse stocks and we talk more about that in the next hour. financials are all doing well, citi passed its moving average, $4.30 now above that. much other stocks have also been rising in the middle of the day in the financial areas. if you're wondering why stocks are up even though the weekly jobless claims number was weak, we had positive data elsewhere with the philly feds, and normally that's not a big market-mover, but traders were impressed with the first positive reading since september, 2008. most important thing, inventory levels are starting to rise a little bit. of that's a good kay tore overall that the economy is definitely hitting some kind of bottom. tradertalk.cnbc.com. scott, how's the nasdaq? >> the nasdaq i
NBC
Aug 7, 2009 12:00pm EDT
. troubled insurance company aig posted a $1.82 billion profit in the first quarter, the first gain for a while. a positive bias helped drive the stock up sharply. aig was one of the company's that received a federal bailout. >>> from tiny apartments at seattle area, they are turning into a big deal. apartment as big as a dorm room. >> just like any other seattle apartment -- >> dead, chair, table, refrigerator. >> and our room. the size of a parking space. the biggest is no more than 168 square feet. >> it is reshaping how people can live in the city. >> the developer came up with the idea after staying in a hostel in europe. he designed them for college graduates just starting out or professionals boggling and jobs. don't expect to put your toothbrush on your sink or eight loofah in the shower. one of a, one sink for everyone to share. several neighbors don't like the idea. >> critics complain that when the units came in, they got no one, no public hearing, nothing from the city. there is also the issue of parking to 46 unistar, six parking spaces. where are all -- six units here,
NBC
Aug 10, 2009 5:00am EDT
sleeping peacefully. nice to be back and talk to you this morning. all eyes on insurance giant a.i.g. today. the new getting a c.e.o. as its government-appointed head steps aside. according to the wall street journal the new leader is decisive and direct. a.i.g. is preparing to sell some of its assets to repay. after a drop in the unemployment rate friday, leading to a broad rally in stocks. posting gains in all u.s. averages. the u.s. economy may be on the cusp of a recovery. plus the nobel prize-winning economist says the deepest slump since the great depression may be ending. while many who were quick to fire at as the recession was impending may be quick to bring people back because they were too aggressive about getting rid of them. at the new york stock exchange, jayne king, reporting for wbal-tv news. >> you look amazingly awake, by the wafmente >> i don't know how you're doing it. >> let's see how i am tomorrow. >> welcome back. >> the time now, 5:22. 75 degrees on tv-hill. another cleck on your morning commute with traffic and weather together. >> and don't forget to e-mail us our
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